SEBI Proposes New Format For Compliance Reporting By Foreign Venture Capital Investors
The updated rule mandates that FVCIs submit quarterly reports to SEBI, detailing their venture capital activities in the specified format.
The Securities and Exchange Board of India on Wednesday proposed a new format for Foreign Venture Capital Investors to file their compliance reports. The updated rule mandates that FVCIs submit quarterly reports to SEBI, detailing their venture capital activities in the specified format.
SEBI stated in its consultation paper that recent amendments to the FVCI Regulations, approved by the SEBI board and set to be notified soon, highlighted the need for this revised reporting format.
As per the proposed revised format, FVCI are required to provide general information about them, including SEBI's registration number, date of grant of such registration, date of incorporation, country of incorporation, category of FVCI, and principal place of business.
Additionally, they are required to provide details of directors, brief investment details of FVCI in India, industry-wise investment breakup and any instance of violation or non-adherence to securities laws, etc., in the proposed format.
SEBI has sought public comments till Aug. 29 on proposals.
(With inputs from PTI)
